Hormel Increases Their Dividend 10.7%
Dividend Increase Announcement
On November 25th, Hormel announced a dividend increase of 10.7%. This will increase their dividend per quarter from $0.21 to $0.2325. It is payable on February 18th for shareholders of record on January 13th. The new quarterly dividend represents an annualized dividend amount of $0.93 per share as compared to the current annualized dividend amount of $0.84 per share.
Hormel Dividend Information
Annual Dividend: $0.93
Dividend Yield: 2.17%
Dividend Growth History: 52 years
Payout Ratio: 53.46%
Dividend Increase Affect On More Dividends
I am currently holding 12 shares of Hormel in the More Dividends portfolio. With this 10.7% increase it will add an additional $1.08 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Hormel is a great company that I have been holding for awhile. My only complaint with it is the fact that I am holding it in a taxable account that doesn’t allow me to reinvest the dividends. Despite that, I am glad that I started the position. I have no intentions of selling the position but I would love to add to it. Currently, the share price is well above my cost basis but if the price were to drop significantly I would love to be able to add to it.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Hormel? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
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